Did
you know that the average
student loan balance
is $24,803? Student debt is taking a heavy toll on borrowers, according
to an American Institute of CPAs survey,
which found that 75% of respondents or their children
had made personal
or financial sacrifices because of monthly student loan payments. Sacrifices included putting off saving for retirement (41%); delaying car purchases (40%); postponing a home purchase
(29%); and even waiting on marriage (15%).
Among the most troubling
findings were that only 39% fully understood the burden that student
loan debt would place on their future and 60% had at least some regrets about their decisionson financing their education. That's why
it's always critical to understand the full potential
impact of all your financial choices.
The good news is that your CPA can help. Contact us with all your
financial questions and we'll provide
the knowledge and insights you need to make the best
decisions for you.